Governments provide public information to reduce information imperfections. Do households rely on public signals to inform themselves about market conditions? To identify the importance of public information in households' price expectations, we take advantage of a unique natural experiment in...

Sunday birth rates in Ecuador have sharply declined, and the drop is larger among young cohorts in urban areas. These trends are attributed to an increase in cesarean births, which are generally scheduled during regular hospital hours. Multiple rounds of Health Surveys confirm that mothers with...

We propose two new indices that measure the evolution of housing market liquidity. The key features of both indices are a) their ability to control for unobserved heterogeneity exploiting repeat listings, b) their use of censored durations (listings that are expired and/or withdrawn from the...

This paper describes the production of a panel of price indices for housing services, other produced goods and services, and all produced goods and services for each metropolitan area in the United States and the non-metropolitan part of each state for each year from 1982 through 2012. Our...

This paper analyzes how the distribution of marketing time of residential real estate evolves across time. Using real estate data from a large suburb in the Washington D.C. area we first show that the whole distribution of marketing time shifts to the right when a “hot” housing market in...

Programs to reduce tra¢ c congestion and air pollution by restricting use of motor vehicles on working days have generally not met with success given existing studies of such programs in a number of cities. We conduct the Örst study of Quito, Ecuadorís three-year-old Pico y Placa program...

The influential contributions of DiNardo, Fortin, and Lemieux (1996), Firpo, Fortin, and Lemieux (2009), Machado and Mata (2005), and Donald, Green, and Paarsch (2000) provide researchers with a useful toolbox to estimate counterfactual distributions of scalar random variables. These techniques...

This paper assesses the predictive power of variables that measure market tightness, such as seller's bargaining power and sale probabilities, on future home prices. Theoretical insights from a stylized search-and-matching model illustrate that such indicators can be associated with subsequent...